SteelOrbis has been informed that Turkish producers'
wire rod offers to the export markets have decreased by $5/mt on the lower side week on week to $455-465/mt FOB, while transaction activity in the market has generally been slack. Meanwhile, Turkish
wire rod offers to the US have remained unchanged during the past week at $540-562/mt DDP US Gulf Coast ports.
Market sources state that inquiries have been heard in the US market for Turkish
wire rod but demand has been on the low side. Turkish suppliers want to increase their prices slightly on the back of the rising import scrap prices, but they are reluctant to do so as they are not sure demand will be sufficient to support higher prices.
On the other hand, Turkish producers' offers for drawing quality
wire rod to
Europe are currently at $480/mt FOB, while buyers consider this price level to be on the high side and are making counter-offers.